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The veterinary biomarkers market operates at the intersection of animal health and diagnostic innovation, with dynamics shaped by various factors, including technological advancements, growing awareness of animal welfare, and the increasing prevalence of veterinary diseases. Biomarkers, measurable indicators of biological processes, are crucial tools for veterinarians in disease diagnosis, prognosis, and treatment monitoring. As the demand for advanced veterinary diagnostics rises, the market experiences notable growth.
Technological advancements are a primary driver influencing the dynamics of the veterinary biomarkers market. The development of sophisticated diagnostic tools, including genomics, proteomics, and metabolomics, has revolutionized the identification and analysis of biomarkers in animals. This has allowed for more precise and early detection of diseases, enabling veterinarians to tailor treatment plans and interventions for improved outcomes. The constant evolution of diagnostic technologies continues to shape the landscape of veterinary biomarkers, with an emphasis on accuracy and efficiency.
Increasing awareness of animal welfare and a growing focus on preventive veterinary care contribute to the market dynamics. Pet owners and livestock producers alike are becoming more conscious of the health and well-being of animals under their care. Biomarkers play a pivotal role in preventive healthcare by allowing veterinarians to identify potential health risks and intervene before diseases progress. This shift towards proactive veterinary care aligns with a broader trend in the animal health industry, emphasizing the importance of early detection and management of diseases.
The prevalence of veterinary diseases, both infectious and non-infectious, significantly impacts the market dynamics. As the global population of companion animals and livestock increases, so does the risk of diseases affecting these populations. Veterinary biomarkers offer a valuable tool for rapid and accurate diagnosis, helping veterinarians implement timely interventions. Moreover, the market is influenced by the emergence of zoonotic diseases, emphasizing the interconnectedness of animal and human health and the need for effective veterinary diagnostics to safeguard both.
Regulatory considerations play a crucial role in shaping the veterinary biomarkers market dynamics. The approval and standardization of biomarker-based diagnostic assays by regulatory bodies, such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA), are pivotal for market growth. Companies operating in this space must navigate the regulatory landscape to ensure compliance and market access for their biomarker-based diagnostic products.
Collaboration and partnerships between diagnostic companies, research institutions, and veterinary practitioners contribute to market dynamics. These collaborations foster innovation, research, and the development of new biomarkers for diverse veterinary applications. As the demand for more specialized biomarkers increases, strategic alliances become essential for addressing the unique needs of various animal species and ensuring the broad applicability of biomarker-based diagnostics.
The COVID-19 pandemic has brought additional attention to the importance of veterinary diagnostics, including biomarkers, in managing animal health. The pandemic has highlighted the potential for zoonotic diseases to impact both human and animal populations. This awareness has led to increased investment in research and development within the veterinary biomarkers market, with a focus on expanding diagnostic capabilities and improving the understanding of diseases that affect animals.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Animal Type, Product Type, Application, Disease Type, and Region |
Veterinary Biomarkers Market Highlights:
Global Veterinary Biomarkers Market Overview
Veterinary Biomarkers Market Size was valued at USD 0.7 Billion in 2022. The Veterinary biomarkers industry is projected to grow from USD 0.79 Billion in 2023 to USD 2.13 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.20% during the forecast period (2023 - 2032).
Increasing pet ownership and humanization, prevalence of animal diseases, advancements in diagnostics, one health approach demand for personalized medicine, research and development investments, food safety concerns are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Veterinary Biomarkers Market Trends
- Increasing pet ownership and humanization is driving the market growth
The market for veterinary biomarkers has grown at a rapid rate in recent years, largely because pet ownership is on the rise and animals are becoming more and more like people. The veterinary industry has been significantly impacted by this dynamic shift in how people view and care for their pets, creating new opportunities and demands for cutting-edge diagnostic and treatment techniques.
The increasing number of pet owners around the world is one of the key factors driving the veterinary biomarkers market. Whether they are dogs, cats, or exotic pets, pets have assimilated into many households. As a result of this tendency, pet owners are more eager than ever to make investments in the health and welfare of their animal companions, which has resulted in a rise in demand for high-quality veterinary care. In order to ensure that these cherished pets receive the finest treatment possible, veterinarians are under growing pressure to make precise and quick diagnoses.
Another significant aspect driving the expansion of the veterinary biomarkers market is the humanization of pets. People are still willing to go to considerable efforts to safeguard the health and happiness of their dogs because they continue to view them as members of the family. Consumer expectations have changed as a result, with pet owners now expecting the same level of advanced diagnostics and medical care for their animals as they would for themselves. A profitable market for novel veterinary biomarkers that can help with the early identification, monitoring, and treatment of diseases in pets has been formed as a result of this shift in mentality.
Personalized treatment in veterinary care is now possible thanks to the discovery of veterinary biomarkers. Veterinarians may now employ biomarkers to customize treatment strategies for particular dogs, taking into account their distinct genetic make-up and medical history, just like in human medicine. This precision medicine strategy boosts the overall quality of life for pets while also improving treatment outcomes. Thus, driving the Veterinary biomarkers market revenue.
Veterinary Biomarkers Market Segment Insights
Veterinary biomarkers Animal Type Insights
The Veterinary biomarkers market segmentation, based on animal type, includes companion animals and production animals. The companion animals segment dominated the market in 2022. The main factor driving the companion animals market is the rise in the number of people who acquire pets as companions, such as dogs, cats, and small mammals. The demand for cutting-edge healthcare solutions, including biomarker-based diagnoses and therapies, has increased as more people decide to bring these animals into their homes. Demand for cutting-edge veterinary treatment is rising as pet owners become more ready to make financial investments in the welfare of their animals.
Veterinary biomarkers Product Type Insights
The Veterinary biomarkers market segmentation, based on product type, includes biomarkers, kits & reagents and biomarker readers. The biomarkers, kits & reagents segment dominated the market in 2022. The need for precise and effective diagnostic solutions has increased as diseases in animals, including pets, livestock, and wildlife, are becoming more common. Veterinarians now have the resources they need to make early and precise illness diagnoses because of kits and reagents. The demand for such diagnostic equipment keeps growing as pet owners show greater interest in the health of their animals.
Veterinary biomarkers Application Insights
The Veterinary biomarkers market segmentation, based on application, includes disease diagnostics, preclinical research and others. The disease diagnostics segment dominated the market in 2022. Both pet owners and doctors are looking for diagnostic methods that are speedier and more practical. Rapid answers, which are essential for prompt intervention and therapy, are provided by veterinary biomarker tests, especially those created for point-of-care use. The introduction of biomarker-based diagnostic techniques in veterinary offices is being driven by this factor of convenience.
Figure 1: Veterinary Biomarkers Market, by Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Veterinary biomarkers Disease Type Insights
The Veterinary biomarkers market segmentation, based on disease type, includes inflammatory & infectious diseases, cardiovascular diseases, skeletal muscle diseases, tumor and others. The inflammatory & infectious diseases category generated the most income in 2022. Zoonoses are infectious diseases that can harm humans in addition to harming animals. The COVID-19 pandemic has brought attention to the value of keeping an eye on and taking action against infectious diseases in animals to stop potential human transfer. This has raised funding for these illnesses' research and diagnostics, thus boosting the market for veterinary biomarkers.
Veterinary biomarkers Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Veterinary Biomarkers Market dominated this market in 2022 (45.80%). One of the highest rates of pet ownership in the world is in North America. In many households, dogs, cats, and other companion animals are regarded as members of the family. To maintain the health and welfare of pets, there is a high need for improved veterinary treatment, including biomarker-based diagnostics. This is due to the deep emotional connection that exists between pet owners and their animals. Further, the U.S. Veterinary biomarkers market held the largest market share, and the Canada Veterinary biomarkers market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: VETERINARY BIOMARKERS MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Veterinary biomarkers market accounts for the second-largest market share. The rigorous laws and standards governing animal care are well-known in European nations. The focus on animal welfare increases the demand for precise and trustworthy diagnostic techniques, particularly tests based on biomarkers. Both pet owners and regulatory bodies place a high premium on ensuring the health and welfare of animals, which is helping the market for veterinary biomarkers expand. Further, the German Veterinary biomarkers market held the largest market share, and the UK Veterinary biomarkers market was the fastest growing market in the European region.
The Asia-Pacific Veterinary Biomarkers Market is expected to grow at the fastest CAGR from 2023 to 2032. Many economies in the Asia-Pacific region depend heavily on agriculture, and the area is a major producer of cattle. In order to monitor and control infectious diseases and maintain the health of herds and flocks, biomarkers are utilized not just for companion animals but also for livestock. Disease control is becoming more and more necessary as consumer demand for premium meat and dairy products rises. Moreover, China’s Veterinary biomarkers market held the largest market share, and the Indian Veterinary biomarkers market was the fastest growing market in the Asia-Pacific region.
Veterinary biomarkers Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Veterinary biomarkers market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Veterinary biomarkers industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Veterinary biomarkers industry to benefit clients and increase the market sector. In recent years, the Veterinary biomarkers industry has offered some of the most significant advantages to medicine. Major players in the Veterinary biomarkers market, including Zoetis, Virbac, Life Diagnostics, ACUVET BIOTECH, Merck & Co., Inc., IDEXX Laboratories, Inc., MI: RNA Diagnostics Ltd., Mercodia AB, Antech Diagnostics, Inc, Avacta Animal Health Limited and others, are attempting to increase market demand by investing in research and development operations.
Zoetis Inc. (Zoetis) is an animal healthcare company that conducts research, develops, produces, and sells drugs, immunizations, and diagnostic equipment for livestock and companion animals. Its products are supplemented by biodevices, genetic diagnostics, and precision cattle husbandry. The company sells vaccines, parasiticides, anti-infective medications, and medicated feed additives among other things. It also offers contract manufacturing services to other parties via its client supply services (CSS) company. The company has manufacturing facilities all over the world, and it sells products to veterinarians, livestock producers, and people who raise and care for farm and companion animals through direct marketing channels and distributors in the Americas, Europe, Africa, Asia, and Australia. The headquarters of Zoetis are located in Parsippany, New Jersey, USA.
Idexx Laboratories Inc. (IDEXX) is a medical device firm that focuses on the development, production, and distribution of goods and services for the markets for dairy, poultry, livestock, companion animals, and water testing. The business provides point-of-care veterinary diagnostics, microbiological contaminant testing products (in water), diagnostic and health-monitoring products for livestock and poultry, laboratory diagnostic tools, rapid assay test kits, veterinary reference laboratory diagnostics and consulting services, practice management, and diagnostic imaging systems and services. For the human point-of-care medical diagnostics market, IDEXX also offers a line of blood gas and point-of-care electrolyte analyzers. It offers product distribution across the Americas, Europe, the Middle East, Africa, and Asia-Pacific both directly and via a network of distributors and resellers. The US state of Maine is home to the IDEXX corporate headquarters.
Key Companies in the Veterinary biomarkers market include
- Zoeti
- Virbac
- Life Diagnostics
- ACUVET BIOTECH
- Merck & Co., Inc.
- IDEXX Laboratories, Inc.
- MI: RNA Diagnostics Ltd.
- Mercodia AB
- Antech Diagnostics, Inc.
- Avacta Animal Health Limited
Veterinary biomarkers Industry Developments
August 2023:Zoetis opened a new building for diagnostics and biodevices research and development.
August 2023:Zoetis opened a facility in Lincoln, Nebraska, the US.
July 2023:Zoetis and Numaferm entered into a licensing agreement for the development and production of defined veterinary therapeutics.
June 2023:IDEXX launched the first veterinary diagnostic test for detecting kidney injury in cats and dogs.
January 2022:IDEXX announced a series of product and service enhancements to enable veterinary practices to be more efficient, while managing increasing patient volumes.
October 2022:The National Institutes of Health awarded researchers from Boston University's Chobanian & Avedisian School of Medicine a grant for USD 4.6 million for the creation and validation of novel lung cancer biomarkers.
October 2021:In order to increase the production of veterinary monoclonal antibodies (mAbs), Zoetis Inc., a multinational animal health firm, announced the expansion of its manufacturing and development facility in Tullamore, Ireland.
Veterinary Biomarkers Market Segmentation
Veterinary biomarkers Animal Type Outlook
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Companion Animals
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Production Animals
Veterinary biomarkers Product Type Outlook
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Biomarkers
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Kits & Reagents
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Biomarker Readers
Veterinary biomarkers Application Outlook
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Disease Diagnostics
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Preclinical Research
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Others
Veterinary biomarkers Disease Type Outlook
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Inflammatory & Infectious Diseases
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Cardiovascular Diseases
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Skeletal Muscle Diseases
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Tumor
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Others
Veterinary biomarkers Regional Outlook
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North America
- US
- Canada
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Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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